Employer matching of employee 401(k) contributions can provide a powerful incentive to save for retirement and is a key component in pension-plan design in the United States. Using detailed administrative contribution, earnings, and pension-plan data from the Health and Retirement Study, this...

In this paper, we examine the empirical relationship between financial repression, financial development, and growth. Theory has developed in which financial repression and growth are linked. The main contribution of this paper is to look at two parts. First, what, if any, is the empirical link...

This paper tests the hypothesis that average interest rates for ten categories of commercial loans (short-term and long-term loans in five size classes) in the regions of the United States behave as if they were generated in an integrated national market. The tests, derived from two models of...